OneDigital Investment Advisors LLC Has $3.22 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

OneDigital Investment Advisors LLC lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 89.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,578 shares of the semiconductor company's stock after acquiring an additional 21,048 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Marvell Technology were worth $3,215,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company's stock worth $283,643,000 after buying an additional 3,993,414 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Marvell Technology in the 1st quarter worth about $181,559,000. Ameriprise Financial Inc. boosted its holdings in Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the period. Swedbank AB boosted its holdings in Marvell Technology by 653.5% in the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company's stock valued at $163,148,000 after purchasing an additional 2,024,269 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Marvell Technology by 13.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company's stock worth $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares of the company's stock, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares of the company's stock, valued at approximately $15,311,380.35. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,500 shares of company stock worth $20,230,710 over the last ninety days. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Down 3.2 %

Shares of MRVL stock traded down $2.87 during mid-day trading on Friday, reaching $87.83. 10,001,282 shares of the stock traded hands, compared to its average volume of 9,496,007. The stock's fifty day simple moving average is $78.89 and its two-hundred day simple moving average is $72.80. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The company has a market cap of $77.83 billion, a price-to-earnings ratio of -79.13, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts' consensus estimates of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology's payout ratio is -21.62%.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. Barclays boosted their price target on Marvell Technology from $80.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, August 30th. Bank of America increased their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Stifel Nicolaus restated a "buy" rating and issued a $95.00 price target (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Piper Sandler reissued an "overweight" rating and issued a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.77.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.